Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in Texas Pacific Land Co. (NYSE:TPL)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,969 shares of the financial services provider’s stock after selling 1,260 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Texas Pacific Land worth $13,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TPL. Vanguard Group Inc. increased its stake in shares of Texas Pacific Land by 12.5% during the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock valued at $2,599,426,000 after buying an additional 260,278 shares during the period. State Street Corp grew its holdings in Texas Pacific Land by 3.8% during the 3rd quarter. State Street Corp now owns 762,627 shares of the financial services provider’s stock worth $674,727,000 after acquiring an additional 27,884 shares in the last quarter. Geode Capital Management LLC increased its position in Texas Pacific Land by 21.5% during the 3rd quarter. Geode Capital Management LLC now owns 462,518 shares of the financial services provider’s stock valued at $411,943,000 after purchasing an additional 81,974 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Texas Pacific Land by 31.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 179,635 shares of the financial services provider’s stock valued at $198,669,000 after purchasing an additional 43,217 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its position in shares of Texas Pacific Land by 0.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 99,457 shares of the financial services provider’s stock worth $109,995,000 after purchasing an additional 259 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Performance

NYSE TPL opened at $1,307.86 on Friday. The company has a market cap of $30.06 billion, a PE ratio of 66.32 and a beta of 1.69. Texas Pacific Land Co. has a 52-week low of $555.71 and a 52-week high of $1,769.14. The firm’s 50 day moving average price is $1,348.93 and its 200-day moving average price is $1,239.36.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The business had revenue of $185.78 million for the quarter. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

Insider Activity

In other news, CFO Chris Steddum sold 214 shares of the company’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now directly owns 3,502 shares of the company’s stock, valued at approximately $4,601,592.98. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the sale, the vice president now directly owns 1,393 shares of the company’s stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 68 shares of company stock worth $91,008. Corporate insiders own 6.50% of the company’s stock.

Texas Pacific Land Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.